The upcoming report from Lazard (LAZ) is expected to reveal quarterly earnings of $0.68 per share, indicating a decline of 12.8% compared to the year-ago period. Analysts forecast revenues of $810.16 million, representing a decline of 0.3% year over year.
Over the last 30 days, there has been a downward revision of 12% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Lazard metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus estimate for 'Adjusted net revenue- Asset Management' stands at $316.20 million. The estimate indicates a year-over-year change of +10.1%.
The average prediction of analysts places 'Adjusted net revenue- Financial Advisory' at $483.88 million. The estimate suggests a change of -4.7% year over year.
Based on the collective assessment of analysts, 'Adjusted net revenue- Corporate' should arrive at $10.07 million. The estimate indicates a change of -42.6% from the prior-year quarter.
Analysts predict that the 'Assets under management - Total Fixed Income' will reach $48.09 billion. The estimate is in contrast to the year-ago figure of $43.29 billion.
Analysts' assessment points toward 'Assets under management - Total Equity' reaching $203.57 billion. Compared to the present estimate, the company reported $174.94 billion in the same quarter last year.
The consensus among analysts is that 'Assets under management - End of Period' will reach $260.69 billion. Compared to the present estimate, the company reported $226.32 billion in the same quarter last year.
The collective assessment of analysts points to an estimated 'Assets under management - End of Period - Other' of $9.06 billion. Compared to the current estimate, the company reported $8.10 billion in the same quarter of the previous year.
View all Key Company Metrics for Lazard here>>>
Lazard shares have witnessed a change of +6.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #5 (Strong Sell), LAZ is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Lazard, Inc. (LAZ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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